Credit Portfolio Purchase Agreement Mexico (Compraventa de Cartera de Créditos)

A Credit Portfolio Purchase Agreement Mexico (Compraventa de Cartera de Créditos) is a written commercial contract by which a seller (cedente or vendedor) transfers to a buyer (cesionario or comprador) a portfolio of receivables (cartera de créditos or cartera de cuentas por cobrar) — consisting of outstanding loans, commercial credits, lease receivables, or other credit rights (derechos de crédito) — in exchange for an agreed purchase price in Mexican pesos (MXN). In Mexico, credit portfolio sales are governed by the Ley General de Títulos y Operaciones de Crédito (LGTOC) Article 45-A (governing the endorsement and assignment of credit instruments), the Código de Comercio (CCom) Article 75 (classifying credit operations as mercantile acts), and the Código Civil Federal (CCF) Articles 2029 through 2050 (governing the general rules of assignment of credits — cesión de créditos).

LGTOC Article 45-A establishes the legal framework for the factoraje financiero (financial factoring) and portfolio assignment operations in Mexico — providing that credit rights arising from the supply of goods, services, or loans may be assigned or transferred to third parties, including financial institutions (instituciones financieras), factoring companies (empresas de factoraje), and investment funds (fondos de inversión). The assignment of credits is a fundamental financial mechanism used by banks (bancos), Sofomes (Sociedades Financieras de Objeto Múltiple), credit unions (uniones de crédito), and commercial creditors to monetise receivables, manage risk, and comply with capital adequacy requirements under the Ley de Instituciones de Crédito (LIC) and the regulations of the Comisión Nacional Bancaria y de Valores (CNBV).

Under CCF Article 2030, an assignment of credit (cesión de crédito) transfers to the buyer not only the principal receivable (capital del crédito) but also all ancillary rights (derechos accesorios) — including guarantees (garantías), interest (intereses), default penalties (penas convencionales), and any securities (fianzas or hipotecas) securing the assigned receivables. The buyer steps into the shoes of the original creditor (acreedor cedente) with respect to each assigned receivable — subject to any defences (excepciones) that debtors (deudores) could validly raise against the original creditor at the time of assignment.

Debtor notification (notificación al deudor) is a critical formality in Mexican credit assignments. Under CCF Article 2036, assignment is effective against the debtor only from the moment the debtor receives notification (notificación) of the assignment — either through service by a Notario Público or Corredor Público, or through the debtor's written acknowledgment (reconocimiento escrito del deudor). Until notification, the debtor may validly pay the original creditor and be discharged, even though the credit has already been transferred to the buyer. For large portfolio sales involving hundreds or thousands of individual credits, the notification mechanism must be specified in the sale agreement — whether individual written notices, publication in the Diario Oficial de la Federación (DOF), or electronic notification through CNBV-approved channels.

For regulated sellers — banks (bancos), Sofomes reguladas, insurance companies (aseguradoras), and pension fund managers (Afores) — credit portfolio sales may require prior authorisation from the CNBV, the Comisión Nacional de Seguros y Fianzas (CNSF), or the Comisión Nacional del Sistema de Ahorro para el Retiro (CONSAR) under their respective organic laws and prudential regulations. The sale must comply with the Disposiciones de Carácter General applicable to each type of regulated entity. For unregulated sellers — commercial creditors, retail companies with receivables — the CCF and CCom govern the transaction without regulatory pre-approval, though CFDI issuance through SAT remains mandatory.

Credit portfolio sales have significant implications under the Ley para la Transparencia y Ordenamiento de los Servicios Financieros (LTOSF) and the Ley de Protección y Defensa al Usuario de Servicios Financieros (CONDUSEF law) — the buyer (as new creditor) must honour the original loan terms and cannot unilaterally modify interest rates, fees, or collection practices upon acquiring the portfolio. Consumer debtors (deudores consumidores) retain all protections under the CONDUSEF framework, including the right to file complaints (reclamaciones) against the buyer as the new portfolio holder before the Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros (CONDUSEF).

A Credit Portfolio Purchase Agreement Mexico is required whenever a financial institution, Sofom, commercial company, or individual creditor sells its outstanding receivables or loan book to a third party investor, financial institution, or debt collection entity — governed by LGTOC Article 45-A and CCom Article 75.

The agreement is needed when a bank (banco regulado by the CNBV under the Ley de Instituciones de Crédito) or Sofom sells non-performing loan portfolios (carteras vencidas) to a specialised debt recovery company (empresa de recuperación de cartera) or private equity fund — a common transaction in Mexico's banking sector used to clean balance sheets and comply with CNBV provisioning requirements under the Disposiciones de Carácter General aplicables a las instituciones de crédito (Circular Única de Bancos).

A portfolio purchase agreement is required when a retail company (empresa comercial) sells its trade receivables (cuentas por cobrar comerciales) arising from credit sales of goods or services to a factoring company (empresa de factoraje financiero) or a Sofom for immediate liquidity — a transaction governed by LGTOC Article 45-A and the factoraje financiero provisions of the Ley General de Organizaciones y Actividades Auxiliares del Crédito (LGOAAC).

The document is also needed when an investment fund (fondo de inversión) acquires a performing or sub-performing mortgage portfolio (cartera hipotecaria) from a financial institution — requiring detailed representations about loan-to-value ratios, borrower creditworthiness, property valuations (avalúos), and compliance with the origination standards of INFONAVIT, FOVISSSTE, or the private mortgage market.

Under LGTOC art. 45-A and CCF arts. 2029–2050, any transfer of credit rights — whether performing or non-performing, secured or unsecured — requires a written agreement specifying the portfolio composition, purchase price, debtor notification mechanism, seller warranties, and buyer representations. Without a written agreement, enforcement of the purchased credits against debtors and guarantors is significantly complicated in proceedings before the Juzgados de Distrito en Materia Mercantil or the Juzgados de Distrito en Materia Civil Federal.

The agreement is also needed in the context of corporate restructurings (reestructuras corporativas) and insolvency proceedings under the Ley de Concursos Mercantiles (LCM) — where a concursada (company in concurso mercantil proceedings) may sell its credit portfolio as part of an asset realisation plan (plan de enajenación de activos) approved by the juez de concurso mercantil (bankruptcy judge) and the síndico (trustee). In this context, the portfolio purchase agreement must reference the judicial authorisation and comply with LCM Chapter VII provisions governing asset sales during insolvency to be enforceable against the debtor's general creditor body.

A valid Credit Portfolio Purchase Agreement Mexico under LGTOC Article 45-A, CCF Articles 2029–2050, and CCom Article 75 must include these essential elements for enforceability and regulatory compliance:

Party Identification: Full legal name, RFC, Registro Público de Comercio folio, domicilio fiscal, and regulatory authorisation (if applicable — CNBV licence number, SOFOM registration) of both seller (cedente) and buyer (cesionario). For regulated entities, confirmation that the representative has board authority (acuerdo del consejo de administración) to execute the portfolio sale.

Portfolio Description and Schedule: A detailed portfolio schedule (Anexo de Cartera) identifying each credit in the portfolio — by unique credit identifier, debtor name and RFC, original principal amount (saldo original), outstanding balance at the cut-off date (saldo al corte), interest accrued (intereses devengados), default status (status de mora), guarantee type (hipoteca, fianza, prenda), guarantee value, and credit origination date. The cut-off date (fecha de corte) must be specified — representing the date as of which the portfolio data in the schedule is accurate.

Purchase Price and Payment Mechanism: Total purchase price in MXN — expressed as a percentage of the outstanding portfolio balance (e.g., 'X% of the aggregate outstanding balance as of the cut-off date'). Payment mechanism — wire transfer (transferencia SPEI), with timing (at closing, or in tranches subject to post-closing verification). Price adjustment mechanism for portfolio credits that are repaid, disputed, or excluded between the cut-off date and the closing date.

Assignment and Transfer: Express language of assignment and transfer (cesión y transmisión) of all credit rights, guarantees, and ancillary rights in the portfolio from seller to buyer, effective as of the closing date. Reference to CCF Article 2030 confirming that the assignment transfers all ancillary rights. Confirmation that the assignment is made pro soluto (without recourse against the seller for debtor creditworthiness) or pro solvendo (with recourse), clearly specifying the seller's liability scope.

Debtor Notification: The agreed mechanism for notifying debtors of the assignment — individual written notices, notarial notification (notificación notarial), or electronic notification — specifying the timeline (within X days of closing), the party responsible for notification (buyer or seller), and the new payment instructions for debtors. Reference to CCF Article 2036 establishing effectiveness of assignment against debtors only upon notification.

Seller Representations and Warranties: Seller warrants that each credit in the portfolio (a) was originated in compliance with applicable law; (b) is legally enforceable against the debtor and all guarantors; (c) is free of any prior assignment, pledge, or encumbrance; (d) the portfolio schedule data is accurate as of the cut-off date; and (e) no ongoing litigation (litigio pendiente) or dispute (controversia) affecting the assigned credits exists except as disclosed. Breach of seller warranties triggers indemnification obligations.

Buyer Due Diligence and Acceptance: Description of buyer's due diligence review (revisión de cartera) period before closing — review of credit files, loan documents, collateral documentation — and the process for buyer to identify and exclude ineligible credits (créditos inelegibles) before closing.

Collection and Servicing: Whether the seller retains servicing obligations (administración de cartera) for a transition period or the buyer assumes immediate collection responsibility. If the seller retains servicing, the agreed servicing fee (comisión de administración) and reporting obligations.

Governing Law and Regulatory Compliance: LGTOC, CCF, CCom, and applicable CNBV Disposiciones as governing law. CONDUSEF compliance obligation of the buyer as new creditor.

Forms-legal.com provides this Credit Portfolio Purchase Agreement Mexico template as a starting point for financial institutions, Sofomes, and commercial creditors structuring portfolio sales under LGTOC Article 45-A and CCF Articles 2029–2050. Credit portfolio sales above $10,000,000 MXN or involving regulated financial institutions require review by a Licenciado en Derecho specialised in derecho bancario and financiero before execution.